June 11 by Lin Shearer
Gone are the days when you could afford to take weeks or even days to respond to your customers’ desire to place an order or to request information or a quote. And you can’t afford to sacrifice quality and accuracy for speed – ending up with orders and quotes riddled with errors or potentially costly violations of new and changing regulations. Enterprises must now be nimble and adapt – they must transform their products and services and also how they sell those products and services – all while delivering high-quality experiences, accurate information, and mitigating risk.
In the Gartner 2018 Magic Quadrant for Digital Commerce, they found that 63% of the business and IT leaders surveyed for the report now consider digital commerce as a critical and natural progression to a digital business strategy. And Forrester has found that 76% of enterprises are going to market with a mix of self-service e-commerce and assisted sales models – with very few pursuing a pure self-service or traditional sales model.
Digital transformation of your commercial processes – everything that touches how you sell, convert sales bookings to contracts, and then realize and maximize revenue – is arguably the most important component of a digital business strategy. And with Gartner defining Digital Commerce as “the buying and selling of goods and services using digitalization technologies that result in a transaction of value to the customer,” there’s a direct line from digital commerce to the overall digital transformation of the enterprise. What business isn’t focused ultimately on driving transactions that result in revenue for you and value for your customers?
At Apttus, we look at digital transformation as a progression from digitalizing key commercial processes, embedding them with behavior-changing applications, and then layering on artificial intelligence once a critical mass of data has been collected. In many companies, these processes remain fragmented and siloed – cobbled together with a mix of point solutions and manual processes. Beyond impacting the efficiency of your internal processes – and you can certainly bend the revenue yield curve in the near term by addressing these issues – the real breakthrough comes from a step change in the quality of your customer experience.
Indeed, the Gartner study finds that delivering the desired customer experience as the most critical challenge for digital commerce with consistency in serving customers across all sales channels a key barrier. Consumer brands and retailers have been struggling with this for a decade or more and the challenge is now coming to a head for enterprises that sell to businesses. Business buyers expect the same ease, speed, and convenience that they have now come to enjoy in their personal consumer lives – and to be recognized and met with tailored product and service offerings, pricing and incentives across all of your sales touch points: from self-service e-commerce to assisted direct and channel partner sales.
Apttus now a Challenger
We believe that Apttus’ advancement from a Visionary to a Challenger in the latest Gartner Magic Quadrant for Digital Commerce confirms we are uniquely positioned to help enterprises deliver the unified business buying and selling experience today’s digitally connected buyers have come to expect. The report names Apttus a Challenger “due to its growing customer base and B2B solution” and cites as a key strength Apttus’ “All-in-one platform,” offering a number of modules to meet complex B2B needs, such as CPQ, CLM, OMS, billing and incentive management, on the same platform.
This is the combination of tools that take you beyond making your internal sales, legal, and revenue processes more efficient to transforming your end-to-end commercial processes in service of creating a world class digital customer experience. Get your complimentary copy of the Gartner 2018 Magic Quadrant for Digital Commerce, then talk to us about how Apttus Digital Commerce can be the starting point for your path to digital transformation.
Want to learn more about managing a subscription business? Download the Ultimate Guide today.